Bitcoin has rallied above $61,000 U.S. ahead of an anticipated U.S. exchange traded fund (ETF) approval.
The largest cryptocurrency gained as much as 5.5% and was trading at $61,975 U.S. in London, England.
Bitcoin is in focus as the first futures ETF tied to the digital token may debut in America today (October 18), according to a regulatory filing.
Major levels being watched include the $60,000 U.S. threshold as well as Bitcoin’s all-time high of $64,870 U.S.
The price of Bitcoin has more than doubled since the start of this year, although the ride has been volatile as the market confronts narratives from increasing institutional adoption and greater asset-class maturity to a cryptocurrency crackdown in China and concerns about energy usage.
Other cryptocurrencies are also rallying, with second largest Ethereum up 3.4%. Binance Coin has retaken the third spot in cryptocurrency market value after a 17% rally in the past seven days.
Cryptocurrency exposed stocks have been boosted as well, with exchange firm Coinbase Global rising 1.3% in premarket trading and mining company Riot Blockchain adding 1.8%.
